Not directly, but there are some other options
There is not currently a method to change the colors in the console at large, but you can add a severity value next to items in list views which shows the severity as a numeric value. An example can be seen in figure 1.
Figure 1) an example of a list view mode which includes severity as a value.
It is quite a 'deep' function of the console. The following work space has it configured:
You can select this mode by using the mode button in each list view. Figure 2 shows a composite and annotated screen shot of this button plus details of the below.
To setup the mode in the first place go to
tools --> Work space level list view settings --> Templates
To edit the new one I have provided double click where specified in the screen shot, you will see the addition of the severity item there
You can add and remove items from this or a new template by dragging them down from the top items, or moving them outside the template box (they will turn red to say they will not be present in the mode)